Australian-based Perpetual Resources has announced a strategic plan to invest approximately R$400 million in Minas Gerais, Brazil, marking a significant step in lithium and rare earth extraction within the region. This investment focuses on advancing three major projects—Raptor, Isabella, and Itinga—poised to position Minas Gerais as a pivotal hub for critical minerals essential to the energy transition. The investment is expected to create over 300 direct jobs in local communities, including Araçuaí, Salinas, Itaobim, Governador Valadares, and Poços de Caldas.
This ambitious venture is supported by a newly signed Memorandum of Understanding (MoU) between Perpetual Resources and the Government of Minas Gerais, facilitated by the Secretariat of Economic Development (Sede-MG) and its affiliated agency, InvestMinas. InvestMinas has been instrumental in driving the project's early stages, assisting in regulatory approvals and building partnerships with local suppliers.
Fernando Passalio, Secretary of Economic Development for Minas Gerais, highlighted the significance of this collaboration, emphasizing Minas Gerais’ appeal for international investors in the critical minerals sector. “This agreement underscores the strategic attractiveness of Minas Gerais for foreign direct investment, showcasing our business-friendly climate with economic freedom and legal security. The partnership will strengthen our role in lithium and rare earth extraction, creating jobs and fostering regional economic growth,” said Passalio.
InvestMinas, a key partner in advancing Perpetual Resources’ project, will now focus on connecting the Australian company with local suppliers, facilitating operational progress. “This MoU reaffirms Minas Gerais’ commitment to supporting strategic projects in critical minerals. We aim to drive sustainable development, support licensing processes, and strengthen the supply chain for battery materials—ensuring investment brings new jobs and opportunities to the region,” stated João Paulo Braga, CEO of InvestMinas.
Perpetual Resources, publicly traded on the Australian Securities Exchange (ASX), has approximately 12,500 hectares under license in the “Lithium Valley” of Minas Gerais. In addition to these Brazilian assets, the company is developing the Beharra silica sand project in Australia. Julian Babarczy, CEO of Perpetual Resources, expressed the company’s enthusiasm for the partnership: “It is a privilege to collaborate with InvestMinas to push forward our lithium and rare earth projects. The Government’s support is invaluable as we look to advance our initiatives with confidence in Minas Gerais.”
As part of its growth strategy, Perpetual Resources is also exploring acquisition opportunities to expand its portfolio, focusing on minerals critical to sustainable energy technologies. The company’s commitment to sourcing raw materials such as lithium aligns with its mission to support the production of batteries and other key technologies fueling the global energy shift.
This development marks a significant milestone in Brazil’s journey toward energy transition, highlighting Minas Gerais as a crucial player in the global supply chain for critical minerals.
